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PSBC Releases Social Responsibility Report for 2017
PSBC Releases Social Responsibility Report for 20172018-05-14

The Postal Savings Bank of China (PSBC) released the Social Responsibility Report (Environment Society Governance) in 2017 on April 27, which fully illustrates its thoughts on and practice of social responsibility.

It was of great significance that 2017 marked the 10th anniversary of the founding of the PSBC. Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, the PSBC has been carrying out a comprehensive  plan for promoting all-round economic, political, cultural, social, and ecological progress and the Four-Pronged Comprehensive Strategy, fully complementing the development concepts of innovation, harmonization, greenness, openness and sharing , The plan serves the national economy and people's livelihood, opening a new chapter in fulfilling social responsibility.

The Party committee of the PSBC has insisted on guiding the enterprise in the correct political direction, and wrote the fundamental principles of adhering to the Party's leadership and the requirements of the Party's work into the company's articles of incorporation. The PSBC has implemented the Party's work into the 13th Five Year Plan of the bank, embedded the Party organization into its own governance structure, and optimized the decision-making process regarding important issues. What's more, it has strengthened the role of the Party committee, followed the strategy of large-scale retail commercial banks to serve the community, small and medium-sized enterprises, agriculture, rural areas and farmers, as well as promoted economic and social development, thus guaranteeing and improving people's livelihood.

The PSBC has served a total of 553 million customers in its 40,000 branches, as well as at its 143,000 ATMs and 120,000 self-service stations by the end of 2017.

In addition, the bank has actively promoted the integration of technology and finance, so as to create an efficient financial service chain. The number of e-banking customers has exceeded 234 million by the end of 2017, among which the mobile banking customers reached 175 million. Consumer credit has soared to 1.41 trillion yuan (222.2 billion U.S. dollars) in 2017. The bank has loaned a total of 760.752 billion yuan (119.89 billion U.S. dollars) to small and micro-sized enterprises. What's more, the balance of agriculture-related loans issued by the PSBC has exceeded one trillion yuan[g3]  and reached up to 1.05 trillion yuan (165 billion U.S. dollars).

According to the national strategic requirements, the PSBC has increased its financial support for nationally significant projects and the construction of key infrastructure. The balance of loans reached 1.39 trillion yuan (219 billion U.S. dollars) in 2017.

The bank also established business cooperation relations with foreign financial institutions. It has established a total of 997 agency banks, with trade financing of up to 247.5 billion yuan (39 billion U.S. dollars) in 2017.

The balance of loans in the regions of Beijing, Tianjin and Hebei province was up to 120.425 billion yuan (18.98 billion U.S. dollars); that in the Yangtze River economic zone was 310.065 billion yuan (48.86 billion U.S. dollars); that in the Western Development Region was 189.699 billion yuan (29.9 billion U.S. dollars); and that in the six provinces of central China was 186.689 billion yuan (29.42 billion U.S. dollars).

The bank attaches great importance to targeted poverty alleviation work. The balance of loans for poverty alleviation reached 45.82 billion yuan (7.22 billion U.S. dollars) in 2017.

The PSBC and the China Foundation for Poverty Alleviation (CFPA) co-founded the Postal Love Public Welfare Fund in 2017, which has raised a total of 11 million yuan (1.73 million U.S. dollars) by the end of 2017. They established self-improvement classes in senior high schools in 34 poverty-stricken counties, funding 1,700 needy senior high school freshmen, and awarded more than 300 needy graduates who had been admitted to universities on Postal Love scholarships.

The PSBC adheres to the concept of green development, and has formulated a green credit strategy and development goal. It has also established leadership groups for the construction of green banks, sped up management and product innovation, and constantly improved the green financial policy system. The balance of green credit was up to 176.631 billion yuan (27.8 billion U.S. dollars), an increase of 134.78 percent over the same period last year.

 

(China Post)

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